How to Improve Your Medical Billing Process
The secret behind the medical billing process is the revenue cycle which is more complex than those before the industry began after adding software automation tools to the mix.
Today’s medical billing process is often so complicated that it takes months to finalize the reimbursement. The challenges come from coordinating internal practice workflow. It comes with all of the demands imposed by your claims processing vendors and external clearinghouses. The situation requires continuous review, even for the most routine care patients.
But medical billing organizations with lots of options to improve the coding and billing process. This leads to faster submission times for your first-pass approval statistics.
Here are 8 ways that will help to speed up the billing process for your organization.
- Clarify the Collections Process
The efficient medical billing process depends upon transparent communication with patients. Make sure that you are in touch with new patients about their liability for paying for the services offered. You can add the details of the patients before their first visit.
- Maintain and Update Patient Files
The handling of the claims needs precise details with 100 percent billing accuracy. You’ll need to instruct staff to verify patient demographics as well as insurance information at each visit. This is necessary because the patient may change jobs or may change to different insurance providers or they have included new family members like a new married spouse.
- Automate Basic Billing Functions
The automated medical billing process helps to rescue the staff who takes more time to drag your business. The slow process leads to low esteem and frustrates employees who could otherwise be free to focus on more patient-centric, personalized service. Identify billing tasks that are routine and mind-numbingly repetitive. Identify billing tasks that are routine and repetitive.
- Train for Success
Every insurance has its own distinctive set of rules. An insurance company may insist on the inclusion of chart notes with claims for new patients, to establish a primary care relationship. While you’ll find insurers that ask for chart notes only to support follow-up care and treatment protocols.
- Outsource Your Most Problematic Collections
As a reliable service provider in the community for years, you and your stakeholders may be reluctant to consider outsourcing work. But it’s prudent to keep an open mind, especially when the efficiency of your revenue cycle is at risk. Working with a third-party profits’ management services company makes your staff free, leaving the more challenging collections to experts.
Ultimately, reviewing the medical billing process right from the initial patient contact to check deposit will enable you to improve the process and capture reimbursements more competently, and thus improving the cash flow.